China Blocks Cryptocurrency Exchanges Following Major Security Breach At Binance

Several exchanges of cryptocurrency were blocked in China this Friday, reports China Money Network. Investors connect these events with the actions of local authorities.

Among other things, access from China has disappeared to the sites of Binance, BitMEX, Gate.io and Bitfinex exchanges, the newspaper reports.

ICO and trade in cryptoсurrencies were banned in China last fall. Local exchanges were forced to close, some of them later opened as platforms for over-the-counter trades. For example, Huobi, which continues to serve Chinese investors, provides information on users who want to sell the cryptocurrency, including volumes, prices and preferred payment methods.

Recently, these sites have caused considerable dissatisfaction with the regulators, since they, in fact, make the ban imposed last year ineffective.

Also recently it became known about the closure of channels for the exchange of cryptocurrency through Chinese messengers.

“Binance related hacking clearly showed that fears about security do not arise from scratch, so closing these sites can be a precautionary measure on the part of the regulator, especially during the People’s Congress of China,” explained a lawyer from Beijing who asked not to state his name . “However, there is no evidence that the government is involved in this.”

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